And its all down to Spotifys market cap, which currently stands at $51.8 billion. Universal Music Group N.V. to Announce Financial Results for the Fourth Quarter and Full Year Ended December 31, 2022 HILVERSUM, The Netherlands, Feb. 2, 2023 /PRNewswire/ -- Universal Music Group N.V. (EURONEXT: UMG) will release its financial results for the fourth quarter and full year 2022 on March 2, 2023 after that day's close of the Euronext market. [128], On March 8, 2022, UMG suspended all its operations in Russia, following the country's invasion of the Ukraine. Popular; COVID-19 Related; Subscribe. Please only use it for a guidance and Universal Music Publishing Group's actual income may vary a lot from the dollar amount shown above. CEO Lucian Grainge Stock Symbol AMS: UMG Your email address will not be published. Two years on, streaming revenues have continued to mushroom, even through a pandemic, and the valuations slapped on Universal have grown in tandem. In a research note earlier this month, Morgan Stanley analysts Omar Sheikh and Patrick Wellington suggested that UMG could now carry a fair value worth of around $49 billion. Richard Rosenblatt (born 1969) is a serial entrepreneur as well as the Co Founder, Chairman and CEO of Demand Media. Universal Music Group N.V. Reports Financial Results for the Fourth Quarter and Full Year Ended December 31, 2021 Summary FY 2021 Results[1] Revenue of 8,504 million, representing growth of 17.0% year-over-year in constant currency, driven by strong growth across all segments [70] On February 11, 2017, PolyGram Entertainment was relaunched as a film and television unit of Universal Music Group under David Blackman. [112], In February 2022, Universal Music Group announced a partnership with Curio, an NFT platform, to create NFT collections for its record labels and artists. [83], In November 2017, USC Annenberg announced UMG's partnership in the "Annenberg Inclusion Initiative", becoming the first music company to do so. UMG is the largest record company worldwide and parent company . Subscribe. BARCELONA/LONDON (Reuters) - Vivendi's Universal Music Group (UMG) could be worth more than $40 billion, Chief Executive Arnaud de Puyfontaine said on Friday, helping to buoy shares in the. Free Cash Flow is not a measure of performance calculated in accordance with IFRS and therefore it should not be considered in isolation of, or as a substitute for cash flow provided by operating activities as a measure of liquidity. "[14] UMG has signed licensing agreements with more than 400 platforms worldwide. impairment losses on goodwill and other intangibles; other income and expenses related to transactions with shareowners (except when directly recognized in equity); depreciation of tangible assets including right of use assets; (gains)/losses on the sale of tangible assets, included right of use assets and intangible assets; impairment losses on goodwill and intangible assets; other charges and income related to transactions with shareowners; financial income and expenses, excluding interest and income from investments; non-cash share-based compensation expenses; certain one-time items that are deemed by management to be significant and incidental to normal business activity; income taxes and adjustments attributable to non-controlling interests; and. European Rights to Sony Music", Universal Music UK Announces Launch of Virgin EMI Records, "H Cobalt Music "" Universal Music Greece", "MINOS-EMI Greek Universal Subsidiary | GreekReporter.com", "Edel kauft legendres Jazzlabel von Universal", "Universal Music Group (UMG) & Disney Music Group (DMG) Expand Agreement Globally", "UNIVERSAL MUSIC GROUP (UMG) & DISNEY MUSIC GROUP (DMG) EXPAND AGREEMENT GLOBALLY", Motown Records and EMI Gospel Announce Joint Venture: Motown Gospel | EURweb Part 1, "Vivendi Declined SoftBank's Lucrative Offer for Universal", "Universal Music Group valuation hits $50bn as Vivendi seeks 'half dozen' investment bank partners", "Universal Music Distribution Owns Record Nine of Top 10 Digital Songs", "Universal a perfect 10 on Billboard 100", "SAG-AFTRA Honors 'Secret Life Of The American Teenager', "SAG-AFTRA Announces American Scene Award Recipients", "Universal Music Group Breaks Up Its Island Def Jam Division", "Amy wins best documentary feature Oscar", "Universal Music Group Taps David Blackman, Scott Landis for Film, TV Development and Production", "Universal Music Group Revives Polygram Label for Film and TV Production", "Grammy Awards bring gold to revitalized Capitol Records", "Universal Music Canada donates EMI Music Canada archive to University of Calgary", "Universal Music Group Buys Digital Marketer Fame House From SFX", "Paul McCartney Signs Worldwide Deal with Capitol Records", "The Bee Gees Ink Worldwide Deal With Capitol Records", "Spotify, UMG finally reach long-term streaming deal", "Universal Music Group Inks Major Licensing Deal With Tencent in China", "China's Tencent seals exclusive music licensing deal with UMG", "Luis Fonsi Breaks Seven Guinness World Records Titles Thanks To 'Despacito', "Universal Music Group Partners With 'Beat Bugs' Producers for Three New Music-Based Series", "Universal Music Group's New Program to Benefit Music-Based Startups", "USC Annenberg launches 'Annenberg Inclusion Initiative', "Universal 'accelerates efforts to promote diversity and inclusion' with new initiative", "Universal Music Acquires Iconic British Labels Stiff Records and ZTT", "Universal Music signs multiyear licensing deal with Facebook", "YouTube signs deal with UMG, Sony over streaming policies", "Rolling Stones Expand Partnership With Universal Music Group", "Vivendi to Sell Up to Half of Universal Music Group", "Why a Partial Universal Music Group Sale Could Spark a Wider Music Biz Selloff", "Rumor Mill - IT'S GOOD TO BE KINGBETTER THAN EVER, IN FACT", "Universal Music to boost its investment in Africa", "The world's biggest music company is setting its sights on Africa", "Elton John signs with Universal 'for the rest of his career', "Taylor Swift's New Record Deal Affects Thousands of Other Musicians", "Taylor Swift Stands to Make Music Business History as a Free Agent", "Taylor Swift Signs New Deal With Universal Music Group", "Queen's "Bohemian Rhapsody" is the most streamed classic rock song of all time", "Universal Music to Acquire Distributor Ingrooves in Move to Strengthen Commitment to Indie Labels", "Universal Music Group on the Forbes America's Best Midsize Employers List", "That Glitchy Music Video on YouTube? That same month, UMG signed a global, multi-year agreement with Facebook becoming the first of The "Big Three" to license its recorded music and publishing catalogs for video and other social experiences across Facebook, Instagram and Oculus. The Guardian pointed out that Grainges bonus comes from Universal Musics 2021 IPO as well as Tencent buying a 10% stake in the company. [130], In 2002, a similar settlement was entered into with music publishers and distributors Sony Music, Warner Music, Bertelsmann Music Group, EMI Music and Universal Music Group and certain retailers, without admission of liability or wrongdoing, with various states. [133], In 2007, with the help of the Electronic Frontier Foundation, Stephanie Lenz sued UMG's publishing company for allegedly improperly requesting that, pursuant to the Digital Millennium Copyright Act, YouTube remove a 29-second home video in which Lenz's child danced to a recording of Prince's song "Let's Go Crazy". All non-IFRS measures should be considered in addition to, and not as a substitute for, other IFRS measures of operating and financial performance as presented in UMGs Condensed Consolidated Financial Statements and the related Notes, or as described in this press release. [46] In November 2012, Steve Barnett was appointed chairman and CEO of Capitol Music Group. [102], In June, YouTube and UMG announced that they were upgrading more than 1,000 popular music videos to high definition, releasing them through 2020. Starting in 2011 UMG's Interscope Geffen A&M Records began signing contestants from American Idol. Recorded Music revenues for the fourth quarter of 2021 were 1,975 million, up 15.2% compared to the fourth quarter of 2020, or 12.3% in constant currency. With a few notable exceptions Taylor Swift and BTS, for example think of the superstar albums we havent seen in the pandemic: Adele, Kendrick Lamar, Bruno Mars, Ed Sheeran, Cardi B, Drake, Kanye, Travis Scott, Rihanna, and many more, all MIA. UMG considers Adjusted EBITDA and Adjusted EBITDA margin, non-IFRS measures, to be relevant measures to assess performance of its operating activities excluding items that may be incidental to normal business activity. Whilst a large net worth seems reasonable for the CEO of one of the biggest music conglomerates on the planet one that was making a million dollars an hour in the first quarter of this year the giant bonus feels like a further insult. Universal Music Revenue $9 B Employees 9,215 Primary Industries Holding Companies & Conglomerates Media & Internet Music Production & Services Funding History Universal Music Group raised a total of $3.5 B in funding over 1 rounds, and is a public traded company. Daniel Kerven, JP Morgan Cazenoves Head of European Media and Internet Equity Research, hit headlines in February 2019 by suggesting that Universal Music Group was worth over 44 billion ($50 billion). The turnover of UMG in 2010 cost $5584 million. Universal Music Group's largest corporate shareholder, Tencent, is headquartered in Shenzhen, China. Universal Music Latin Entertainment is headquartered in Miami, Florida. Our core business is well positioned for a strong 2022, which aligns with the plan we have set to achieve our previously announced mid-term targets.. But with annual costs of around $2 billion, Spotify is currently operating at close to break-even. DMX. Universal Music Group operates a secondary office in Woodland Hills that includes finance, royalty, and operations functions.[122]. And the hits just keep on coming: The report projects that revenues of the worldwide recorded-music business will be up nearly $2 billion, from $21.6 billion in 2020 to $23.5 billion this year,. "[141][142] In a statement issued on June 11, 2019, UMG said The New York Times article contained "numerous inaccuracies, misleading statements, contradictions and fundamental misunderstandings of the scope of the incident and affected assets. The 500 Greatest Songs of All Time This press release may contain statements that constitute forward-looking statements with respect to UMGs financial condition, results of operations, business, strategy and plans. Universals labels are now signing more generous deals with superstar artists like Taylor Swiftthan ever before. Malinda Kathleen Reese's Net Worth. In addition, it should be noted that other companies may have definitions and calculations for these non-IFRS measures that differ from those used by UMG, thereby affecting comparability. Actual results may differ materially from such forward-looking statements as a result of a number of risks and uncertainties, many of which are related to factors that are outside UMGs control, including, but not limited to, UMGs inability to compete successfully and to identify, attract, sign and retain successful recording artists and songwriters, failure of streaming and subscription adoption or revenue to grow or to grow less rapidly than anticipated, UMGs reliance on digital service providers, UMGs inability to execute its business strategy, the global nature of UMGs operations, UMGs inability to protect its intellectual property and against piracy, UMGs inability to attract and retain key personnel, changes in laws and regulations and the other risks that will be described in the annual report. Universal Music Group's revenue grew by more than 1 billion euros in 2021 to 8.5 . Universal Music Japan is headquartered in Shibuya, Tokyo. Nearly all of these mastersin some cases, the complete discographies of entire record labelswere wiped out in the fire. The 100 Greatest TV Shows of All Time A 29bn valuation would actually make Universal Music Group - led by CEO & Chairman Sir Lucian Grainge (pictured) - worth more than its owner, Vivendi. Merchandising and Other revenue grew to 363 million, up 24.3% year-over-year, or 27.4% in constant currency, as retail revenues grew and touring-related merchandising revenue, which was impacted by a COVID-related shut down in live touring in 2020, began to return. They claimed that the recording of "God Save the Queen" was copyrighted, and YouTube initially complied with this request, but subsequently offered the video with the original audio track. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Salary $55k Bachelor. The music business is kind of bored. Vivendi distributed 60% of its UMG shares and retaining 10%. EBITDA amounted to 1,686 million, an increase of 13.4%, or 14.7% in constant currency, compared to 2020, also as a result of the growth in revenues. It moved in 2002 from Hamburg to the district Friedrichshain at the river Spree. [141] In space rented from NBCUniversal, according to an official document marked "Confidential", the fire destroyed at least 118,230 "assets" (master recordings), or about 500,000 song titles, owned by UMG. The stars boost music investments and global expansion. The 2021 financial information included in this press release contains only part of the 2021 financial statements which still have to be adopted by the shareholders at the upcoming annual general meeting of shareholders and will be included in the 2021 annual report. [22][23] On December 9, 1996, the company was renamed Universal Studios, Inc.,[24] and its music division was renamed Universal Music Group; MCA Records continued as a label within the Universal Music Group. In its IPO, UMG hits 54 billion ($62.6 billion) valuation which is over a third bigger than initial valuation. . October 8, 2021 5:08 AM ET. Excluding these items, Adjusted EBITDA for the year was 1,788 million, up 19.4% compared to 2020, or 20.9% in constant currency, driven by revenue growth. [35] Morris became the next chairman of Sony Music Entertainment on July 1, 2011. Annual General Meeting of Shareholders: May 12, 2022. (C) 2006 Roc-A-Fella Records, LLC. $49 Billion? Unaudited Consolidated Statement of Profit and Loss, Unaudited Consolidated Statement of Cash Flows, Non-IFRS Alternative Performance Indicators and Reconciliations, Reconciliation of Operating Profit to EBITDA, Reconciliation of EBITDA to Adjusted EBITDA, Reconciliation of net profit attributable to equity holders of the parent to Adjusted net profit, Reconciliation of net cash provided by/(used for) operating activities to Free Cash Flow. The family of French businessman Vincent Bollor is revealed as the majority shareholder with 28% of UMG shares, through its holding company Bollor (18%) and its subsidiary Vivendi (10%), headed by his son Yannick Bollor. [4][5] The biggest music company in the world,[6] it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. Were an independent distributor working with unsigned artists to put their music online for free. Taylor, Darren Rodney (PDF, 154KB) Death in custody, natural causes. The net leverage ratio, defined as Net debt over EBITDA at year-end 2021 was 1.2x, compared to 1.3x at year-end 2020. More generally, Kerven pointed to a potential convergence premium, given musics ability to drive traffic, engagement and support much bigger and more valuable ecosystems. In other words, whatever the next iPhone, Facebook or TikTok might be, its going to need music and its going to need to pay Universal in order to use it. Excluding these items, Adjusted EBITDA for the quarter was 503 million, up 9.8% year-over-year, or 6.8% in constant currency, driven by revenue growth.
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